NBA Africa will help operate the Basketball Africa League, which launched this month and is run jointly with International Basketball Federation.
The National Basketball Association has formed its first Africa business operation, luring investors and former players including, Dikembe Mutombo, Grant Hill and Junior Bridgeman.
The NBA Africa will oversee the league’s business throughout the continent, including operating Basketball Africa League, which launched on May 16. The entity will establish corporate partnerships and provide support for local governments seeking to build new basketball venues. The NBA envisions basketball being a top sport throughout Africa in 10 years.
Specific terms of the investment in NBA Africa were not made available, but NBA commissioner Adam Silver said in a press conference Monday that the enterprise value for NBA Africa is worth nearly $1 billion.